Gold soars to record, could reach $1,200 an ounce by year-end

11/24/2009 | CNNMoney · Bloomberg

A weakening U.S. dollar and broad worries about economic recovery drove gold to an all-time high of $1,164.80 per ounce Monday. Analysts predicted the rally will drive gold to $1,200 per ounce before the year is over. "We're seeing significant dollar weakness, and I think that's the main driver today," said Joe Foster, portfolio manager for the Van Eck Global International Investors Gold Fund. Other forces at work include gold purchases by central banks.

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CNNMoney · Bloomberg

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